Article 13 - Incorporation of an Investment Club
(1) Any one or more persons may apply for the incorporation of an Investment Club for the purpose of carrying on a Business of a kind permitted by the QFC Law to be conducted by an Investment Club in the QFC by signing and filing with the CRO an incorporation document together with the Prescribed Fee and otherwise complying with the requirements of these Regulations in respect of registration.
(2) The Prescribed Form and incorporation document filed with the CRO shall set out or have attached thereto:
a. the name of the Investment Club which must comply with Article 33 of these Regulations;
b. the nature of the Business to be conducted by the Investment Club and it shall be sufficient to state that the purpose of the Investment Club is to engage in any lawful act or activity for which Investment Clubs may be incorporated under the QFC Law and Regulations, provided however that the Investment Club shall not carry on, or hold itself out as carrying on any activity that falls within paragraphs 1 to 9 of Schedule 3 of the QFC law by way of business (as that term is defined in Article 25 of the Financial Services Regulations);
c. the address of the registered office of the Investment Club, which shall be in the QFC;
d. the date of the financial year end of the Investment Club;
e. the full Name and Address of each of the incorporators of the Investment Club and the number of fully paid Shares each of them agrees to take upon incorporation of the Investment Club;
f. the full Name, Address, date of birth, nationality, occupation and any directorships held within the last 5 years of all the persons who are to be the first directors of the Investment Club together with a declaration made by each of them that they are qualified to act as a director of an Investment Club pursuant to these Regulations;
g. the full Name, Address, date of birth, nationality, and occupation of the person who is to be the first secretary of the Investment Club;
h. the amount of the authorised share capital, with which it is proposed that the Investment Club be registered, and the division thereof into Shares of fixed amount;
i. the Investment Club's articles of association, signed by the incorporators, setting out the internal governance requirements that the Investment Club must fulfil under these Regulations and any relevant Rules issued by the QFC Authority; and
j. such other particulars as the CRO may require from time to time.
(3) The share capital of an Investment Club may be denominated in any currency approved by the CRO.
(4) The incorporation document and all other documentation required to be submitted to the CRO shall be in English and shall be in such form as the CRO may prescribe or approve from time to time.
|Derived (as from 20th December 2016).|